Penguin Solutions prices $750M convertible notes, refinances $295.5M existing debt at 0% coupon

Filed July 17, 2026 · Period ending July 13, 2026 · ~1 min read

Key Changes

• high

  Issued $750M in 0% convertible senior notes due 2031, converting at $116.70/share (50% premium to $77.80 close). Notes are senior unsecured, bear no regular interest, and mature August 1, 2031.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Used $298.1M of proceeds to repurchase $295.5M of existing 2.00% convertible notes (2029 and 2030 maturities) for cash plus 8.7M shares, eliminating coupon payments and extending maturities.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Repaid $100M outstanding under June 2025 credit facility with JPMorgan Chase as administrative agent, reducing secured debt.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →